Antero Midstream Corporation (NYSE:AM) Given Average Recommendation of “Hold” by Brokerages

Antero Midstream Corporation (NYSE:AM) has been assigned a consensus rating of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $24.50.

A number of research analysts recently issued reports on AM shares. Wells Fargo & Company lifted their target price on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday. Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a research note on Tuesday, July 14th.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider directly owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Miller Howard Investments Inc. NY raised its holdings in Antero Midstream by 2.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,978,405 shares of the pipeline company’s stock worth $35,196,000 after purchasing an additional 47,817 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Antero Midstream by 41.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company’s stock valued at $13,056,000 after buying an additional 216,416 shares in the last quarter. Kesler Norman & Wride LLC purchased a new position in shares of Antero Midstream in the 4th quarter valued at $939,000. Louisiana State Employees Retirement System purchased a new position in shares of Antero Midstream in the 1st quarter valued at $2,189,000. Finally, BNP Paribas Financial Markets grew its position in shares of Antero Midstream by 19.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company’s stock valued at $28,338,000 after buying an additional 254,088 shares during the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Shares of AM stock opened at $21.17 on Thursday. The firm has a 50 day moving average of $22.02 and a two-hundred day moving average of $21.65. The stock has a market capitalization of $10.05 billion, a PE ratio of 25.21 and a beta of 0.65. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream has a 52 week low of $16.96 and a 52 week high of $23.83.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.3%. Antero Midstream’s payout ratio is presently 107.14%.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.